Arabian Cement 3Q profit triples

Arabian Cement 3Q profit triples
29 October 2019

Arabian Cement Co saw its net profits after zakat and tax surge to 320.8 per cent to SAR60.6m (US$16.2m) in 3Q19, compared to SAR14.4m in the 3Q18, reports Mubasher.

Revenues of the Saudi cement company increased 64.1 per cent to SAR193.5m in the three-month period ended September. In 3M18 revenues reached SAR117.9m.

In the first nine months of 2019, Arabian Cement achieved net profits of SAR135.1m, a considerable improvement when compared with losses of SAR42.5m in the year-ago period. During this period revenues advanced 28.6 per cent YoY to SAR547.3m when compared with revenues of SAR425.4m in the 9M18.

Published under Cement News